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Email this4:41 pm
September 7, 2018
Offline
I got an offer from Scotia iTrade (as I am sure many others have) - they are offering me 50 free stock/etf trades per year if I sign up for a Scotiabank Preferred Chequing Acct Package - sure I would get 50 free trades but the monthly fee for the Preferred Package is 16.95 per month or 0 if you keep $4000 in the account (which earns 0% interest). Seniors would pay 12.95 monthly or 0 if you keep $4000 in the account earning nothing.
So one would pay 203.40 or 155.40 (senior) annually to get the 50 "free trades." Guess it may be worth it if you do 50 or more trades a year - I do not.
I would prefer that Scotia just give say 25 free trades per year rather than this gimmick. Not impressed.
7:20 am
October 27, 2013
Offline
A number of those kinds of offers come along with more than one brokerage. The math at Scotia works for those with 20+ trades per year (20@$10=$200) and provided those trades are not from their commission free offerings to begin with.
